Margaret Thatcher museum: Good way to spend $23 million?

Margaret Thatcher sits beside her portrait at the National Portrait Gallery in London in May 2000. Love or hate her, Margaret Thatcher, who recently passed away at the age of 87, certainly draws a crowd.

One of her legacies, a pressure group she set up in 1991, hopes she'll continue to do so well after her death.

Conservative Way Forward has unveiled plans for a Margaret Thatcher library and museum that will feature her signature blue Aquascutum suits and handbags, as well as a number of donated and loaned items.

“By May 2009, it had become clear to me that we needed something to protect the legacy of Margaret Thatcher and to teach future generations about her life, values and achievements,” said Donal Blaney, chief executive of Conservative Way Forward, on the Conservative Home blog.

He revealed that the inspiration for the tribute came from the Ronald Reagan Presidential Library and Museum in Simi Valley, California.

Most of the comments on the blog so far are supportive of the idea.

The project's backers are aiming to raise £15 million ($23 million) in private funding, with several large donations already pledged according to reports in London's Metro newspaper, which will enable “conferences, lectures and workshops” to be delivered.

Thatcher was said to be aware of the plans for the museum, and has left a number of letters to be exhibited.